Loan Interviewers and Clerks

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About the Job

Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

It is also Called

  • Underwriter
  • Processing Manager
  • Post Closer
  • Mortgage Processor
  • Mortgage Processing Clerk
  • Mortgage Loan Processor
  • Mortgage Loan Processing Clerk
  • Mortgage Loan Interviewer
  • Mortgage Closing Clerk
  • Mortgage Clerk
show all

What They Do

  • Establish credit limits and grant extensions of credit on overdue accounts.
  • Schedule and conduct closings of mortgage transactions.
  • Accept payment on accounts.
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Present loan and repayment schedules to customers.
  • Answer questions and advise customers regarding loans and transactions.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.

Interests

People who work in this occupation generally have the interest code: C.

This means people who work in this occupation generally have Conventional interests.

Work Values

People who work in this occupation generally prize Relationships, but also value Support and Achievement in their jobs.

Things They Need to Know

  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Things They Need to Be Able to Do

  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking - Talking to others to convey information effectively.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Education Required

Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.

Wages

In 2016, the average annual wage in Pennsylvania was $37,760 with most people making between $26,340 and $51,090

Outlook

0.34%
avg. annual growth

During 2014, this occupation employed approximately 7,000 people in Pennsylvania. It is projected that there will be 7,240 employed in 2024.

This occupation will have about 24 openings due to growth and about 106 replacement openings for approximately 130 total annual openings.



Pennsylvania Department of Education